The latest update is out from SEPLAT Petroleum Development ( (GB:SEPL) ).
Seplat Energy PLC reported strong operational and strategic progress in 2024, highlighted by the acquisition of Mobil Producing Nigeria Unlimited, now renamed Seplat Energy Producing Nigeria Unlimited. This acquisition contributed to a significant increase in production and reserves, with production reaching 52,947 boepd, an 11% increase from 2023, and independently audited 2P reserves up 85% to 886 MMboe. The company’s financial performance showed a 5% increase in revenue to $1,116 million, although cash generated from operations decreased by 26% due to acquisition-related costs. Seplat declared a total dividend of $16.5 cents per share for 2024, reflecting confidence in its financial position and future growth prospects. The company plans to focus on re-opening wells and expanding its drilling campaigns in 2025, with a production guidance of 120-140 kboepd.
More about SEPLAT Petroleum Development
Seplat Energy PLC is a leading independent energy company based in Nigeria, listed on both the Nigerian Exchange and the London Stock Exchange. The company is primarily involved in the exploration and production of oil and gas, with a focus on expanding its operations and reserves in Nigeria.
YTD Price Performance: -2.56%
Average Trading Volume: 278,059
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £1.12B
Learn more about SEPL stock on TipRanks’ Stock Analysis page.